Export to compete in 2011, says UKTI
The region’s companies need to take advantage of export opportunities in 2011, according to the international trade director for UK Trade & Investment (UKTI) East Midlands.
Peter Hogarth said the export of manufactured goods from the region dropped last year, and warned businesses that trading abroad would be essential if they wanted to grow in the next 12 months.
Hogarth predicted the USA and Asia would become export targets in 2011.
Asia presented opportunities for “substantial growth” for East Midlands businesses over the next year, he said. He added that the European Union remained a £90bn market for businesses to take advantage of.
Hogarth warned that, according to latest statistics for September 2010, exports fell by 3.3 per cent in the East Midlands compared to the same period in 2009. Nationally there was an increase of 12.2 per cent and an increase of 25 per cent in the West Midlands.
He said: “Across the East Midlands, we have the products and services that are in demand - for example Derbyshire is the centre of high tech manufacturing. This is good news as there are more rail projects happening in the world right now than ever before as countries have to develop their infrastructures in order to boost the economy or even to maintain their levels of domestic growth.
“Yet for some reason our businesses are not making the most of the opportunities that are out there and our competitors are clearly benefitting.
“Not for many years has there been more emphasis placed by government on the importance of export sales to the prosperity of the nation and the country and we can help local firms to make these sales. We have plenty of events for East Midlands businesses to get involved in throughout 2011 and are able to offer help and advice to any companies out there which are looking to expand.”
